KING CRUDE CARRIERS SA AND OTHERS V RIDGEBURY NOVEMBER LLC AND OTHERS

[2024] EWCA Civ 719, Court of Appeal (Civil Division), Lord Justice Popplewell, Lord Justice Nugee and Lady Justice Falk, 27 June 2024

Contract – Ship sale – Deposit – Cooperation – Condition precedent to payment of an accrued debt – Maxim that a person could not derive a benefit from their own wrong – Mackay v Dick principle

The parties (hereinafter the buyers and sellers) had entered into a sale transaction for four second-hand oil tankers under separate but materially identical contracts based on the Norwegian Saleform 2012.